Legal & Financial Considerations for Someone with Dementia




If you or a loved one has been diagnosed with Alzheimer’s disease or another form of dementia, you and your family will need to take steps to plan for your/their future.  Experts advise families that along with discussing dementia care options, they financially and legally plan for the future. 

The National Institute on Aging advises the person to examine and update their financial and healthcare arrangements as soon as possible. By having legal and financial documents in place, such as a will, a living trust, and advance directives, it ensures the person’s late-stage or end-of-life healthcare and financial decisions are carried out.      

The NIA suggests having a lawyer draw up and maintain the documents as they understand State law and can help update changes to a person’s circumstances such as divorce or a death in the family, and other applicable changes.  These documents should include Advance Directives for Health Care: 

A living will expresses the person’s wishes in regard to medical treatment near the end of life when they can no longer make known their decisions regarding healthcare.  In addition, some people have a Do Not Resuscitate Order signed by a doctor, placed in their medical file that instructs healthcare professionals to not perform CPR in the event they stop breathing or their heart stops.  

A durable power of attorney for health care is a document that specifically designates a person (sometimes known as an agent or proxy) to make healthcare decisions for the individual when they no longer have the capacity to do so.  This document applies to all healthcare decisions and for all types of medical conditions. 

Advance Directives for Financial and Estate Management must be done while a person still has the legal capacity to make decisions and includes a durable power of attorney for finances.  This designates a person of your choosing to manage and make financial decisions for you if you become incapacitated. 

At MorningStar at Mountain Shadows, we specialize in providing seniors with a lifestyle of comfort, wellness and community.  Along with exceptional assisted living, we provide the best memory care Colorado Springs offers.  Please visit our website to learn more.

The unique mission statement of MorningStar at Mountain Shadows, “to honor, to serve, to invest,” sets us apart from other senior living communities. Our foundation is built upon honoring God, valuing all seniors, and investing in staff with a felt calling to serve. Dedicated to creating a real home for residents within a beautiful setting, we encourage you to see for yourself the finest assisted living and memory care Colorado Springs has to offer.


Source: nia.nih.gov/health/legal-and-financial-planning-people-alzheimers

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